The board of trustees shall consist of five (5) members: four (4) of whom shall be elected by a majority of the members of the plan. Two (2) of the elected members shall be certified firefighters of the village, and two (2) shall be certified police officers of the village. The fifth member of the board shall be a legal resident of the village and shall be appointed by the village council. Each of the elected board members shall be appointed for a period of four (4) years, unless he sooner leaves the employment of the village or forfeits membership on the board, whereupon a successor shall be elected by a majority of the members of the plan. Each of the elected board members may succeed himself in office. The resident member shall be appointed by the village council for a term commencing
October 1,1998, and expiring April 30, 1999. The resident member shall be appointed by the village council for a two-year term commencing May 1, 1999, and on the first day of May of each second year thereafter. The resident member shall hold office at the pleasure of the village council. The fifth member hall have the same rights as each of the other four (4) members appointed or elected as herein provided. The trustees shall by majority vote elect from its members a chairman and a secretary. The secretary of the board shall keep a complete minute book of the actions, proceedings, or hearings of the board. The trustees shall not receive any compensation as such, but may receive expenses and per diem as provided by law.
The Police and Fire Pension Board is the administrator of the system, and, as such, it is solely responsible for administering the pension fund. More information on the Police and Fire Pension Resource Center is available on its website.
Members of the Police and Fire Pension Board are required to file financial disclosure within 30 days of appointment or election, annually during their term of office, and within 60 days of leaving office.